PGX vs. PGF
Compare and contrast key facts about Invesco Preferred ETF (PGX) and Invesco Financial Preferred ETF (PGF).
PGX and PGF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. PGF is a passively managed fund by Invesco that tracks the performance of the Wachovia Hybrid & Preferred Securities Financial Index. It was launched on Dec 1, 2006. Both PGX and PGF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGX or PGF.
Key characteristics
| PGX | PGF | |
|---|---|---|
| YTD Return | 11.46% | 11.28% |
| 1Y Return | 19.40% | 18.61% |
| 3Y Return (Ann) | -0.85% | -0.64% |
| 5Y Return (Ann) | 1.53% | 1.60% |
| 10Y Return (Ann) | 3.84% | 3.86% |
| Sharpe Ratio | 2.13 | 1.98 |
| Sortino Ratio | 3.06 | 2.75 |
| Omega Ratio | 1.38 | 1.37 |
| Calmar Ratio | 1.03 | 1.01 |
| Martin Ratio | 10.44 | 10.37 |
| Ulcer Index | 1.94% | 1.83% |
| Daily Std Dev | 9.50% | 9.61% |
| Max Drawdown | -66.43% | -75.69% |
| Current Drawdown | -4.07% | -3.64% |
Correlation
The correlation between PGX and PGF is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PGX vs. PGF - Performance Comparison
The year-to-date returns for both stocks are quite close, with PGX having a 11.46% return and PGF slightly lower at 11.28%. Both investments have delivered pretty close results over the past 10 years, with PGX having a 3.84% annualized return and PGF not far ahead at 3.86%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGX vs. PGF - Expense Ratio Comparison
PGX has a 0.52% expense ratio, which is lower than PGF's 0.62% expense ratio.
Risk-Adjusted Performance
PGX vs. PGF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred ETF (PGX) and Invesco Financial Preferred ETF (PGF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
PGX vs. PGF - Dividend Comparison
PGX's dividend yield for the trailing twelve months is around 5.77%, less than PGF's 6.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGX Invesco Preferred ETF | 5.77% | 6.42% | 6.29% | 4.82% | 4.89% | 5.30% | 6.08% | 5.66% | 6.02% | 5.84% | 5.98% | 6.78% |
PGF Invesco Financial Preferred ETF | 6.19% | 6.14% | 5.97% | 4.67% | 4.90% | 5.14% | 5.74% | 5.32% | 5.92% | 5.60% | 5.92% | 6.63% |
Drawdowns
PGX vs. PGF - Drawdown Comparison
The maximum PGX drawdown since its inception was -66.43%, smaller than the maximum PGF drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for PGX and PGF. For additional features, visit the drawdowns tool.
Volatility
PGX vs. PGF - Volatility Comparison
Invesco Preferred ETF (PGX) and Invesco Financial Preferred ETF (PGF) have volatilities of 3.32% and 3.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.